Company Name: Velpic
Announcement Date: 08/03/2017
Announcement Category: Product launch/update
Announcement Content:
Highlights
● Velpic’s virtual reality (VR) app now live
● The VR app is the first phase of Velpic’s new VR training offering, capitalising on the
multi-billion-dollar VR market - predicted to be worth $30 billion by 20201
● VR training is proving to be more engaging, leading to higher knowledge retention –
estimated to be 80% vs 20% of traditional training methods2
â—Ź Velpic to extend its global first mover advantage by initiating phase two: allowing VR
lesson creation seamlessly within the platform
â—Ź Phase two of the VR product offering will enable customers to create their own VR
content through the VR Lesson Editor and is expected to be available by 2H CY17
â—Ź Expanded offering set to drive customer and revenue growth
Velpic Limited (ASX: VPC) (“Velpic” or “the Company”) is pleased to announce its virtual reality (VR)
app is now live and available in the Apple App Store and Google Play store for download to iPhone
and Android devices.
The app is available for free and will be featured in a national roadshow commencing Monday 6
March 2017 to 200+ business in Brisbane, Sydney, Melbourne, Adelaide and Perth.
The Company is also pleased to announce it will begin phase two of its VR product roadmap. Phase
two will allow customers to create entry-level bespoke VR content themselves within Velpic’s Learning
Management System (LMS). This will further extend Velpic’s global first mover advantage becoming
the first LMS to offer VR lesson creation seamlessly right within the LMS platform. This significantly
reduces the complexity, cost and time of VR lesson creation, enabling anyone to build simple entry-
level VR immersive experiences. Custom content can be created by the client using only a browser
and a 360-degree camera, making VR Lesson creation accessible and appealing to all businesses.
The product is expected to be available in H2 CY2017 and customers will be required to upgrade to
an enterprise package to access the technology, enhancing the Company’s SaaS revenue stream.
VR has now extended beyond its early uses within entertainment and is now being used in retail, real
estate, healthcare and now education and training. By 2018 it is expected over 17 million people will
be active users of VR products2
. VR training offers a more engaging form of learning that has proven
to result in higher knowledge retention – estimated to be 80% vs 20% retention from traditional
training methods2.
Russell Francis, Chief Executive Officer, Velpic said: “Virtual reality training is proving to be an
engaging and fun learning experience which leads to increased knowledge retention. Moreover, the
appeal of VR means that people actually want to take part in VR training. In many compliance training
situations, businesses are required by law to provide training and we’re giving them the opportunity to
provide this in an enjoyable, safe and innovative way with the added benefit that more of the
information presented will be retained. This could lead to a whole manner of other benefits including
better health & safety adherence, higher skilled employees and reduced workplace risks.”
1 Source: Digi-Capital - http://www.digi-capital.com/news/2016/01/augmentedvirtual-reality-revenue-
forecast-revised-to-hit-120-billion-by-2020
2 Source: Fardinpour A., Reiners T., & Dreher H. (2013). Action-based Learning Assessment Method
(ALAM) in Virtual Training Environments. In H. Carter, M. Gosper and J. Hedberg (Eds.), Electric Dreams.
Proceedings Ascilite 2013 Sydney. (pp.267-277)
**ENDS**
Announcement URL: https://www.velpic.com/investor/investor-information.html#asx-announcements
About Velpic:
Velpic - Video eLearning Platform In the Cloud
Online learning is easier than ever with Velpic, a powerful training solution for companies of all sizes and industries.
In a single tool, Velpic’s new cloud based platform allows you to create and edit your own impactful video lessons in-house, play your lessons online and finally, as an administrator, you can track, manage and schedule all your company online training and inductions.
Velpic has proven to dramatically reduce the time and costs to train and induct staff while improving comprehension and retention of the subject matter. Our online training software utilises a visual, interactive approach to learning; through smart quizzes and high quality videos, you can maximise each lesson’s impact.
Everything you need to empower your workforce, in one platform – Velpic eLearning.
Go to Company Profile for: Velpic
Announcement Contact: [email protected]
